HighTower Advisors LLC Raises Stock Position in Teleflex Incorporated (NYSE:TFX)

HighTower Advisors LLC grew its position in Teleflex Incorporated (NYSE:TFX) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,998 shares of the medical technology company’s stock after buying an additional 66 shares during the period. HighTower Advisors LLC’s holdings in Teleflex were worth $986,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cromwell Holdings LLC raised its stake in shares of Teleflex by 59.0% in the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after acquiring an additional 49 shares during the period. Avior Wealth Management LLC raised its position in Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 101 shares during the period. Ashton Thomas Securities LLC acquired a new position in Teleflex during the third quarter worth $40,000. True Wealth Design LLC boosted its position in shares of Teleflex by 16,600.0% during the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after buying an additional 166 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Teleflex by 131.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock valued at $42,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Up 0.6 %

TFX stock opened at $178.28 on Wednesday. Teleflex Incorporated has a 1 year low of $176.65 and a 1 year high of $257.85. The company has a fifty day simple moving average of $206.03 and a 200 day simple moving average of $220.31. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The firm has a market cap of $8.28 billion, a PE ratio of 35.44, a PEG ratio of 1.84 and a beta of 1.16.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. During the same quarter in the previous year, the firm posted $3.64 earnings per share. Teleflex’s revenue was up 2.4% compared to the same quarter last year. Sell-side analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.76%. Teleflex’s dividend payout ratio is presently 27.04%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Royal Bank of Canada reduced their price objective on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Truist Financial reaffirmed a “hold” rating and set a $227.00 price target (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Mizuho cut their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Monday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $259.00.

About Teleflex

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.